collections question

[Anonymous]

How long does a collection usually stay on your report? Thanks dP

[Anonymous]

Generally 7 years from the time that you were first late (30 days) on the original credit account. Some people say 7.5 years because they get to play with dates in the debt exchange, so somewhere between 7 and 7.5 years.

Let me just clarify when I say "first late". What I mean is 7 years from the time you completely stopped paying the card plus 30 days. I don't mean you were 30 days late in 2000 and then started paying it but then stopped paying it in 2003. In that case it would be on your credit until about 2010. Does that make sense?

Message Edited by The_Network on 04-02-2009 07:48 PM

[Anonymous]

I have one account that has been paid and one that is still in collections.  How do I find out the address and phone number of the one I still owe to?  I only have an partial account number on my report.  thanks dP

ps could I do a PFD on the one I still owe to?

[Anonymous]

FCRA states it can't remain for no longer than 7 years. It further states that the 7 year period doesn't begin until 180 days past DOFD, so technically it can remain for 7.5 years from DOFD.

Look on your CR under "creditor contacts" or on the account to find an address for the CA.

A partial account number is fine.

On the one you haven't PIF on.....what is the DOFD? Is it beyond SOL? Can you PIF? Have you DV'd?

Message Edited by sidewinder on 04-02-2009 10:10 PM

[Anonymous]

Your credit report should have an address and/or phone number next to the negative TL.

What you should do depends on how old (last time you paid on it) the account is. If you are passed you SOL (statutes of limitations) in your state, you have much more leverage.

If you are not passed your SOL then you can try a PFD on the one you still owe to, but try some negotiation first, don't come out and offer 100%. Try 80% (or less) and see if they will, if not call back a day or 2 later and try a different amount. Not much to lose.

If you ARE passed your SOL then ask yourself "Are you in big hurry to get these off your credit". If now I would try a couple rounds of disputes first. If those fail or you are in a hurry try a PFD but start at a much lower amount (like 30%) and make sure to let them know you are aware the account is passed the SOL. And if you are doing because you are trying to buy a house are car, DO NOT let them know this.

[llecs]

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The_Network wrote:

If you ARE passed your SOL then ask yourself "Are you in big hurry to get these off your credit". If now I would try a couple rounds of disputes first. If those fail or you are in a hurry try a PFD but start at a much lower amount (like 30%) and make sure to let them know you are aware the account is passed the SOL. And if you are doing because you are trying to buy a house are car, DO NOT let them know this.

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Would you advocate disputing accurate info?

[Anonymous]

My date of last activity is 2/1/2008.  I purchased the scorewatch and I don't know were to find the creditor contacts section.  I have not contacted the CA.  I don't even think I was contacted about it come to think of it.  I can pay in full as it is only 72 dollars, but I would like to have it removed if possible.  If anyone has any advice I appreciate it.  Thanks again dP

[Anonymous]

You need a report directly from the CRA-- if you are eligible then pull your free annual reports -- see link below.

For the unpaid collection, if it is non-medical, then DV them CMRRR and then PFD.

[Anonymous]

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@llecs wrote:

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@Anonymous wrote:

If you ARE passed your SOL then ask yourself "Are you in big hurry to get these off your credit". If now I would try a couple rounds of disputes first. If those fail or you are in a hurry try a PFD but start at a much lower amount (like 30%) and make sure to let them know you are aware the account is passed the SOL. And if you are doing because you are trying to buy a house are car, DO NOT let them know this.

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Would you advocate disputing accurate info?

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I'm not advocating anything. That is more of an ethical question than a credit repair question. I would say that if you feel you have fulfilled you debt obligation and the creditor is still jerking you around then I would dispute with any reason that I think would work. For example I had a Providian credit card with a $200 limit. I paid at least $1000 to that card after I fell behind in payments because I lost my job. And when it finally charged it off, they claimed I owed them $3500. That is usury plain and simple. Would you advocate usury?

[Anonymous]

What should I do if it is a medical debt? dP